Standard 4:Manage Credit and Debt – Students will develop skills to make informed decisions about incurring debt and maintaining credit worthiness.
Grades 3-5
Grades 6-8
Grades 9-12
4.5.ADifferentiate credit products from services. 4.5.A.1Describe the concept of a loan. 4.5.A.2Describe the difference between credit products and services. (Credit and Debt Management C.1)
4.8.ACompare the advantages and disadvantages of credit products and services. 4.8.A.1Analyze information about credit products and services. 4.8.A.2Explain the difference between short- and long-term loans with regards to interest. 4.8.A.3Describe predatory lending practices.
4.12.AEvaluate the advantages and disadvantages of credit products and services. 4.12.A.1Evaluate information about products and services. 4.12.A.2 Differentiate and calculate the difference between short- and long-term loans. 4.12.A.3Identify and discuss examples of predatory lending practices. 4.12.A.4 Apply credit counseling to various situations, and assess the resources that could be used for it.
4.5.BIdentify sources of credit. 4.5.B.1Differentiate between credit and debt. 4.5.B.2List sources of credit, such as banks, credit unions, credit card companies, and retail stores (Credit and Debt Management C.2)
4.8.BIdentify and compare sources of credit. 4.8.B.1Explain credit terminology. 4.8.B.2List sources of consumer credit. 4.8.B.3Distinguish among different types of lending institutions and compare the credit services they offer. 4.8.B.4Explain strategies used to manage credit and debt.
4.12.BAnalyze sources of credit. 4.12.B.1Explain how to acquire and maintain credit. 4.12.B.2 Compare sources of consumer credit, and apply them to consumer decisions. 4.12.B.3 Compare the financial benefits and services of different types of lending institutions. 4.12.B.4 Compare strategies of credit and debt management.
4.5.CIdentify interest rates, fees, and other charges. 4.5.C.1 Describe the different types of payment methods, such as bartering, cash, check, credit card, and debit card. 4.5.C.2Identify uses of a credit card and a debit card. (Credit and Debt Management C.3)
4.8.CIdentify and evaluate interest rates, fees, and other charges. 4.8.C.1Differentiate among a credit and debit cards. 4.8.C.2Compare advantages and disadvantages of various payment methods and options, including the Automated Clearing House. 4.8.C.3Describe the purpose of a mortgage
4.12.C Identify and evaluate interest rates, fees, and other credit charges. 4.12.C.1Analyze the impact of using a credit card vs. a debit card as it relates to money management. 4.12.C.2 Analyze the advantages and disadvantages of different payment methods and options, including the Automatic Clearing House. 4.12.C.3 Explain the different types of loans associated with mortgages as it relates to interest rates (fixed, variable, and balloons), insurance, and fees.
4.5.DDescribe credit worthiness. 4.5.D.1Explain how character, capacity, and capital relate to borrowing. (Credit and Debt Management C.4)
4.8.DComparecredit scores and reports. 4.8.D.1Link character, capacity, and capital with creditworthiness. 4.8.D.2Explain the factors that impact your credit report. 4.8.D.3Describe a credit report; explain what a credit score is and the factors affecting a credit score. 4.8.D.4Identify ways to prevent or manage credit problems.
4.12.DCritique credit scores and reports. 4.12.D.1Explain personal responsibility and the factors that affect creditworthiness, such as payment history. 4.12.D.2Explain how a credit report is used and how frequently it should be obtained. 4.12.D.3Explain how credit scores can be used to leverage better products, services, and employment opportunities, such as Security Clearance. 4.12.D.4Apply strategies to prevent or manage credit problems. 4.12.D.5Compare sources of credit reporting and evaluate credit report scores.
4.5.EExplain the cost of borrowing. 4.5.E.1Define interest and explain how it is used. 4.5.E.2Describe and calculate simple interest in relation to borrowing. (Credit and Debt Management C.5)
4.8.ECalculate the cost of borrowing. 4.8.E.1Compare and compute application of interest, compound interest, and amortization. 4.8.E.2Compute the amount of interest paid over time when using credit. 4.8.E.3Calculate the cost of borrowing for various amounts and types of purchases.
4.12.ECalculate the cost of borrowing. 4.12.E.1Use online business tools to compare and compute interest and compound interest and to interpret an amortization table. 4.12.E.2Compute and assess the accumulating effect of interest paid over time when using a variety of sources of credit. 4.12.E.3Calculate and compare the total cost of borrowing for various amounts and types of purchases.
4.5.FIdentify why people enter into debt. 4.5.F.1List reasons why people borrow. (Credit and Debt Management C.7)
4.8.FExplain how to leverage debt. 4.8.F.1List the purposes of debt. 4.8.F.2Examine ways to leverage debt beneficially.
4.12.FEvaluate how to leverage debt. 4.12.F.1 Explain the advantages and disadvantages of debt. 4.12.F.2 Justify ways to leverage debt beneficially.
4.8.GExplain the consequences of poor money management. 4.8.G.1Identify the problems of poor money management, such as late fees, acquiring loans, paying higher interest rates, and bankruptcy. 4.8.G.2Describe how to find reputable providers of credit counseling services. (Credit and Debt Management C.8)
4.12.GEvaluate the consequences of poor money management. 4.12.G.1Analyze the problems of poor money management, such as poor credit score, late fees, acquiring loans, paying higher interest rates, and bankruptcy. 4.12.G.2Find reputable providers of credit counseling services.
4.5.A.1 Describe the concept of a loan.
4.5.A.2 Describe the difference between credit products and services.
(Credit and Debt Management C.1)
4.8.A.1 Analyze information about credit products and services.
4.8.A.2 Explain the difference between short- and long-term loans with regards to interest.
4.8.A.3 Describe predatory lending practices.
and services.
4.12.A.1 Evaluate information about products and services.
4.12.A.2 Differentiate and calculate the difference between short- and long-term loans.
4.12.A.3 Identify and discuss examples of predatory lending practices.
4.12.A.4 Apply credit counseling to various situations, and assess the resources that could be used for it.
4.5.B.1 Differentiate between credit and debt.
4.5.B.2 List sources of credit, such as banks, credit unions,
credit card companies, and retail stores
(Credit and Debt Management C.2)
4.8.B.1 Explain credit terminology.
4.8.B.2 List sources of consumer credit.
4.8.B.3 Distinguish among different types of lending institutions and compare the credit services they offer.
4.8.B.4 Explain strategies used to manage credit and debt.
4.12.B.1 Explain how to acquire and maintain credit.
4.12.B.2 Compare sources of consumer credit, and apply them to consumer decisions.
4.12.B.3 Compare the financial benefits and services of different types of lending institutions.
4.12.B.4 Compare strategies of credit and debt management.
4.5.C.1 Describe the different types of payment methods, such as bartering, cash, check, credit card, and debit card.
4.5.C.2 Identify uses of a credit card and a debit card.
(Credit and Debt Management C.3)
4.8.C.1 Differentiate among a credit and debit cards.
4.8.C.2 Compare advantages and disadvantages of various payment methods and options, including the Automated Clearing House.
4.8.C.3 Describe the purpose of a mortgage
4.12.C.1 Analyze the impact of using a credit card vs. a debit card as it relates to money management.
4.12.C.2 Analyze the advantages and disadvantages of different payment methods and options, including the Automatic Clearing House.
4.12.C.3 Explain the different types of loans associated with mortgages as it relates to interest rates (fixed, variable, and balloons), insurance, and fees.
4.5.D.1 Explain how character, capacity, and capital relate to borrowing.
(Credit and Debt Management C.4)
4.8.D.1 Link character, capacity, and capital with creditworthiness.
4.8.D.2 Explain the factors that impact your credit report.
4.8.D.3 Describe a credit report; explain what a credit score is and the factors affecting a credit score.
4.8.D.4 Identify ways to prevent or manage credit problems.
4.12.D.1 Explain personal responsibility and the factors that affect creditworthiness, such as payment history.
4.12.D.2 Explain how a credit report is used and how frequently it should be obtained.
4.12.D.3 Explain how credit scores can be used to leverage better products, services, and employment opportunities, such as Security Clearance.
4.12.D.4 Apply strategies to prevent or manage credit problems.
4.12.D.5 Compare sources of credit reporting and evaluate credit report scores.
4.5.E.1 Define interest and explain how it is used.
4.5.E.2 Describe and calculate simple interest in relation
to borrowing.
(Credit and Debt Management C.5)
4.8.E.1 Compare and compute application of interest, compound interest, and amortization.
4.8.E.2 Compute the amount of interest paid over time when using credit.
4.8.E.3 Calculate the cost of borrowing for various amounts
and types of purchases.
4.12.E.1 Use online business tools to compare and compute interest and compound interest and to interpret an amortization table.
4.12.E.2 Compute and assess the accumulating effect of interest paid over time when using a variety of sources of credit.
4.12.E.3 Calculate and compare the total cost of borrowing for various amounts and types of purchases.
4.5.F.1 List reasons why people borrow.
(Credit and Debt Management C.7)
4.8.F.1 List the purposes of debt.
4.8.F.2 Examine ways to leverage debt beneficially.
4.12.F.1 Explain the advantages and disadvantages of debt.
4.12.F.2 Justify ways to leverage debt beneficially.
4.8.G.1 Identify the problems of poor money management, such as late fees, acquiring loans, paying higher interest rates, and bankruptcy.
4.8.G.2 Describe how to find reputable providers of credit counseling services.
(Credit and Debt Management C.8)
4.12.G.1 Analyze the problems of poor money management, such as poor credit score, late fees, acquiring loans, paying higher interest rates, and bankruptcy.
4.12.G.2 Find reputable providers of credit counseling services.